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(a) Jacqueline invests 6000 in an account that pays a compound interest of 3.5% per annum. iii. What is the value of her investment after
(a) Jacqueline invests 6000 in an account that pays a compound interest of 3.5% per annum. iii. What is the value of her investment after the first year? iv. What is the value of her investment after 3 years? (2) (3) v. Jacqueline would like to withdraw 9000. How long will Jacqueline have to wait before getting this value of 9000? (3) (b) A company bought some goods and needs to determine depreciation. vi. A company car was purchased for 13200 but depreciates at 6% per annum. How much will it be worth after 5 years? (2) vii. A certain machine was purchased for 18800 and depreciates at 10% per annum. Find the least number of years until it is worth less than 10000. (3)
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